Newcomers dominate the German VC market

Most are young firms

By

Nicholas Lockley in Frankfurt and

William Hutchings

May 6, 2002 5:00 p.m. GMT

A study of domestic German private equity firms by a leading academic reveals an industry in its infancy.

Professor Stefan Jugel of the University of Wiesbaden says in his study: 'Overall, the industry is young. Although the necessary market experience is present in some houses in a very pronounced way, it is lacking overall. Those with firsthand knowledge of exits and the whole industry cycle are the exception.